Section 49-45-17 – Recovery of damages for breach of obligation under bond–Notice to commission–Time for commission response.
49-45-17. Recovery of damages for breach of obligation under bond–Notice to commission–Time for commission response. Any person injured by the breach of any obligation of a grain buyer, for the performance of which a bond has been given under any of the provisions of this chapter, may sue on the bond in the person’s own […]
Section 49-45-18 – Audit of scale tickets–Certification of quantity and class of grain.
49-45-18. Audit of scale tickets–Certification of quantity and class of grain. If the commission becomes aware of any act by any grain buyer as described in §49-45-16, the commission may: (1)Undertake an immediate audit and verify the names and addresses of all outstanding scale ticket holders as revealed by the audit, and audit and certify […]
Section 49-45-19 – Grain buyer license—Revocation—Filing of claims.
49-45-19. Grain buyer license—Revocation—Filing of claims. Upon the revocation of a grain buyer license, any claim against the grain buyer arising under this chapter must be made in writing and filed with the commission, within ninety days after receiving notice of the revocation. Upon the revocation of a grain buyer license, the commission shall: (1)Once […]
Section 49-45-21 – Commission authorized to contract for inspection of grain buyers’ assessment and checkoff records.
49-45-21. Commission authorized to contract for inspection of grain buyers’ assessment and checkoff records. The commission may contract with the Wheat Commission pursuant to §38-10-41, with the South Dakota Oilseeds Council pursuant to §38-27-19, the Soybean Research and Promotion Council pursuant to §38-29-14, the South Dakota Corn Utilization Council pursuant to §38-32-24, and the South […]
Section 49-45-22 – Class A license requirements–Violation as misdemeanor.
49-45-22. Class A license requirements–Violation as misdemeanor. A grain buyer with a Class A license shall keep all company owned grain in the grain buyer’s possession insured at current market value of the grain against loss by fire, windstorm, and extended coverage risks. The grain buyer shall furnish the commission with proof of the insurance […]
Section 49-45-23 – Records of grain purchased and contracts.
49-45-23. Records of grain purchased and contracts. A grain buyer shall keep all records of grain purchased and all contracts issued and canceled in a safe place. The records shall be kept current and open for inspection by the commission. Each record shall be retained for a period of six years. Source: SL 2008, ch […]
Section 49-45-24 – Notice of destruction of or damage to facility.
49-45-24. Notice of destruction of or damage to facility. A grain buyer shall notify the commission, within twenty-four hours, if the facility of a facility-based grain buyer is destroyed or substantially damaged. Source: SL 2008, ch 251, §22.
Section 49-45-9.1 – Filing of financial documents in lieu of bond.
49-45-9.1. Filing of financial documents in lieu of bond. If the commission determines, because a corporate surety company becomes insolvent or ceases to write grain buyer bonds in this state, that a bond in the sum required by §49-45-9 cannot be executed, or if a grain buyer is in the process of chapter 11 reorganization […]
Section 49-45-10 – Payment for grain by buyer.
49-45-10. Payment for grain by buyer. A grain buyer shall pay the purchase price to the owner or the owner’s agent for grain upon delivery or demand of the owner or agent unless payment is to be made in accordance with the terms of a voluntary credit sale which complies with the requirements of this […]
Section 49-45-10.1 – Uniform scale tickets or receipts.
49-45-10.1. Uniform scale tickets or receipts. Upon receiving grain, a grain buyer shall issue to the seller an original uniform scale ticket or comparable receipt for each load of grain received. Tickets or receipts shall be numbered consecutively and a copy of each ticket or receipt shall be retained for six years. Source: SL 2008, […]